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In a big industry the numbers of factors influencing a decision have increased situation has become big and complex because these factors interact with each other in complicated fashion. There is thus great uncertainty about the outcome of interaction of factors like technological environmental competitive etc. For instance consider a factory production schedule which has to take into account.
a. Customer demand.
b. Requirements of raw materials.
c. Equipment capacity and possibility of equipment failure and
d. Restrictions on manufacturing process
what is similation model as a type of mathematical models
DISCUSS THE SIGNIFICANCE AND SCOPE OF OPERATION RESEARCH IN MODERN MANAGEMENT
In a business, statistics is used to study the demand and market characteristics of the product or service being sold. In fact, market research
These models have been developed to establish a trade off between costs of providing and the waiting time of a customer in the queuing system. Constructing a model entails desc
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3. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y pape
A producer of furniture manufactures two products - tables and chairs. Processing of these products is done on two machines A and B. A chair needs 2 hours on machine A and 6 hours
a pipe lis dur for rpair,the repair would cost 10000 and it would last for 3 years.alternatively a new pipe line can be purchase at 30000 for 10 years.assuming 10% depriciation rat
how to solve it
Multiple Objective s The sample may vary according to the objective of the research. There may several objectives of marketing research so the sample size may vary a
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